During its first term at the Centre, the Modi-led Bharatiya Janata Party government provided tax exemptions to corporate entities amounting to a whopping Rs. 4.32 lakh crore, according to Budget documents of various years. The amount of concessions increased every year from Rs. 65,067 crore in 2014-15 to about Rs.1.09 lakh crore in its last year, 2018-19. On an average, these concessions amounted to about 7.6% of the net tax revenue of the central government.
In fact, the amount allocated to various key departments this year is less than the amount of concessions given to corporates: department of health and family welfare is planning to spend Rs. 62,659 crore; department of school and literacy, Rs. 56,537 crore; department of higher education, Rs. 38,317 crore; department of drinking water and sanitation, Rs. 20,016 crore, and so on.
In UPA 2, the total amount of such tax exemptions was about Rs. 3.52 lakh crore. Clearly, the Modi government has not just continued with the policy but done so with greater enthusiasm, increasing the waivers by over 22%.
— source newsclick.in | 09 Jul 2019